Regional Development of Financial Innovation in Eastern European Countries

Abstract

The paper analyses the development of the fintech industry in a regional context in an attempt to explain the unequal development of financial innovation in various markets. The development of crowdfunding, digital payments, and digital commerce development, but also the development of asset management via Robo-advisers will be analysed using economic and social drivers of the phenomena, particularly for the Eastern European countries that are now members of the EU but shared a common communist history without a properly developed financial market. The analyses and the conclusions are useful both for policymakers and business developers but also for academia and researchers.